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General Electric said Friday that net income fell 9 percent in the third quarter as the company struggles to grow revenue and profits after shedding media and banking assets. But improving industrial performance helped the company beat Wall Street expectations.

GROWTH QUICKENS: China's economy, the world's second largest, grew 7.8 percent in the latest quarter compared with a year ago, government data showed Friday. That was up from 7.5 percent growth in the previous quarter, which was the slowest in two decades.